Buffett taught me how to be a better person

Vincenza 2022-10-21 05:35:38

I saw a colleague recommending Buffett's documentary on WeChat Moments, and I finally finished watching it this morning. I'm reading "Poor Charlie's Book", so I'm particularly interested in the pairing of Buffett and Munger, wondering what makes them what they are today? This "Becoming Warren Buffett" is not to teach people how to become Buffett, but Buffett tells us how to be better with the wisdom of his life.

#Sensitive to numbers
Buffett said that he has been sensitive to numbers since he was a child, and my understanding of "sensitive to numbers" is to memorize the data patterns that are in hand, such as how long my palm is, how long is my arm span, how many meters is a step... Use the data you always carry to measure the unknown.

#The goal of making money
Many people, like me, lack a "sense of urgency". The embodiment of this sense of urgency is to set a goal to make money, such as "you must save 5W this year", and set rewards and punishments for the goal. Most people want to make money, but wanting to make money is not just talking about it, far from seeing your desire to make money.

# Compound Interest / Time Magic
The magic of compound interest is a concept that Buffett and Munger highly recommend, referred to as "money makes money". After you have the first money, how can you invest your principal to generate interest?
Compared with compound interest, it is time. Looking at one thing in the long run, as long as you plant an excellent seed, time will allow you to slowly ferment.

The more you value reputation
and interpersonal interactions, the more you can discover that the most important thing among people is "credibility", not the data that analysts and other investors use pen and paper to calculate. Business can be quantified, but human conduct cannot. One can only manage one's own reputation once in a lifetime, so it is far more important than business.

#Favorite Work The
sooner you can realize what you like and work hard for it, the sooner you can succeed. Loving something from the bottom of your heart will bring you a lot of excellent added value, such as concentration and persistence. What is the thing you want to do when you don’t need to work?

I became interested in biographies, because good people always have qualities that you don't usually notice, and these qualities are the simplest truth. For example, life is a game, it is not about who makes more money, but who is more focused and who lives longer.

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Extended Reading

Becoming Warren Buffett quotes

  • Warren Buffett: The worst mistakes involve not understanding other people as well as you might.

  • Howard Buffett: When he wrote the letter to us, he put something in that letter that was incredibly important to me, which was exactly how our foundation behaves, which is, if you're gonna try to bat a thousand, you won't do very many things that are important. But if you're willing to basically strike out a few times, you can really change something big.